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The Bank stated that it'll 'look through' the affect inflation as a result of the increasing amount of GST, the Emissions Trading Scheme, plus other related tax changes. The Bank forecasts that 1 more 2.7% can added to inflation a result of these former factors, the brand new Consumer Price Index crowning at 4.8% in June 2011. Taking aside these factors, the underlying inflation rate would be 2.1%.

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